How to Apply for 500k Or N3M FirstGem Loan Fund Scheme – Apply Here

The FirstGem Fund Scheme is FirstBank’s gender support single-digit loan for women in MSMEs, to enable them meet their working capital and asset finance needs.

Features

• Min amount of N500, 0000 and Maximum of N3,000,000 (based on eligibility)
• Interest Rate – 9% p.a
• Tenor 12 – 24 months based on facility type
• Management fee: 0.5% flat (one off)
• Keyman Insurance: 0.5% (one-off)

Facility Type

• Working Capital – To purchase raw materials or stock in trade.
• Time/Term Loan – To purchase assets (specialized assets may be financed on exceptional basis)

READ- FG Begins SMEDAN ₦1.5m Loan – smedan Registration Portal

Target Market

• Women Owned /Led MSMEs in the following sectors
• Food / Beverage processing & Packaging
• Beauty and cosmetics
• Confectionaries, Catering & Restaurants
• Transportation (Logistics)
• Agric/Agro-Allied (retail value chain)

Eligible Business:

MSMEs in the following approved sectors can apply:

1. Food / Beverage processing & Packaging Confectionaries
   2. Catering & Restaurants
   3. Transportation (Logistics)
   4. Beauty/cosmetic products
   5. Agric/Agro Allied (retail / food value chain)

Customers eligible to access the FirstGem Fund?

• a. All women owned and led MSMEs with at least 51% female ownership in the approved sectors.
• b. Eligible businesses must be registered with CAC. Loan amount:
• a. Minimum of N500,000, maximum of N3M with a single digit loan at 9%
• b. The repayment period for the FirstGem loan is 12months for Working Capital and 24months for the Term Loan.
• c. Customers of other banks can also apply on provision of their 12-month business account statement from another bank and opening of a Gem Business account.
• d. Customer in FMCG or Fashion industry are not eligible to access the FirstGem fund How to apply:

 How to Apply

• Download the Retail Loan Application Form
• Complete the form and with the accompanying documents, submit at the nearest FirstBank branch

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